Renowned Crypto Analyst Predicts an 800% Rally for XRP
A well-known crypto analyst, @egragcrypto, has made a bold prediction that Ripple’s native token, XRP, is on the brink of experiencing an 800% surge. According to the analyst, XRP will skyrocket from its current levels to reach $5.50 within just 14 days.
Ripple Prepares for a New Rally
This latest forecast by @egragcrypto is an update to a previous prediction made in May. At that time, XRP was trading at $0.4639, and the analyst had given three price targets: $0.85 to $1, $5.5, and $6.1 in the coming months.
A few weeks after this initial prediction, significant events unfolded within the Ripple ecosystem, leading to XRP being granted clear regulatory status in the United States. As a result, the token’s price started to rise and reached yearly highs of $0.93, fulfilling @egragcrypto’s first target.
How Realistic Does This XRP Prediction Look?
If XRP were to reach $5.50, it would represent an 800% price increase by the end of the year. However, current fundamentals suggest that this forecast is unlikely to materialize.
@egragcrypto believes that there is a high chance of an epic crash before any significant rise occurs. The analyst clarified that their prediction was not based on the next two weeks but rather on the completion of the rally within that timeframe.
Hot Take: Is an 800% Rally for XRP Possible?
The prediction of an 800% rally for XRP may seem ambitious and exciting to crypto enthusiasts. However, it is essential to approach such forecasts with caution. While XRP has shown significant growth in the past, it is crucial to consider current market conditions and factors that could impact its price. It is always wise to conduct thorough research and analysis before making any investment decisions.